Alston & Bird Consumer Finance ABstract

CFPB Issues Its Fall 2019 Rulemaking Agenda

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A&B Abstract: On November 20, 2019, the Consumer Financial Protection Bureau (the “Bureau” or “CFPB”) published its Fall 2019 Rulemaking Agenda (the “Rulemaking Agenda”) as part of the Fall 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Rulemaking Agenda sets forth the matters that the Bureau reasonably anticipates having under consideration during the period from October 1, 2019 to September 30, 2020.  The Rulemaking Agenda is the first Unified Agenda prepared by … [Continue reading] about CFPB Issues Its Fall 2019 Rulemaking Agenda

Supreme Court Cases Threaten a “Cornerstone” of the FTC’s Enforcement Program – Disgorgement

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A&B ABstract:    For decades, the FTC has pursued defendants allegedly engaged in “unfair or deceptive acts or practices in or affecting commerce” in violation of the FTC Act.[i]  Specifically, the FTC has used Section 13(b) of the FTC Act to … [Continue reading] about Supreme Court Cases Threaten a “Cornerstone” of the FTC’s Enforcement Program – Disgorgement

Federal Court Inspects Maryland’s Restrictions on Inspection Fees

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Residential Mortgage

A&B Abstract: Maryland’s inspection fee statute has been interpreted by the Maryland Court of Appeals and the Maryland Office of the Commissioner of Financial Regulation (“OCFR”) to apply both at the time of origination and throughout the … [Continue reading] about Federal Court Inspects Maryland’s Restrictions on Inspection Fees

CFPB Updates Financial Institution Guidance on Elder Financial Exploitation

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A&B ABstract: In July 2019, the Consumer Financial Protection Bureau (“CFPB”) issued an update to its 2016 Advisory and Recommendations for Financial Institutions on Preventing and Responding to Elder Financial Exploitation (“Update”).  The … [Continue reading] about CFPB Updates Financial Institution Guidance on Elder Financial Exploitation

Changes to the Department of Defense’s SCRA Website Database Could Impact Servicers

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Supreme Court

A&B ABstract: Servicers should be aware of changes being made to the Department of Defense’s (“DoD”) Servicemembers Civil Relief Act (“SCRA”) website in response to a complaint that the DoD failed to protect the privacy of servicemembers’ … [Continue reading] about Changes to the Department of Defense’s SCRA Website Database Could Impact Servicers